Download - JANUARY + 15 - StudyIQthe Atal Pension Yojana (APY) with a total pension wealth of Rs 1,344.70 crore. To make APY more aracRve, the Ministry modiﬁed some rules and gave an opRon

JANUARY + 15th FEBRUARY - Banking and Financial Awareness

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Banking awareness

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India’sfirstcashlesstownship/society

Gujarat Narmada Valley Fertilizers (GNFC) township

Bharuch

Population - 5,000


OrientalBankofCommerce(OBC)

On the occasion of its 75th Foundation Day,

launched mobile wallet 'Oriental Batuaa’

Animesh Chauhan, Managing Director & CEO


India’sfirstcashlessmass-marriage

BayadtowninSabarkantha,NorthGujarat


UjjivanSmallFinanceBank

- launched official operations - five pilot branches

- Ujjivan Financial Services – NBFC (holding company of the small finance bank)


Paytm Payments Bank Ltd Got final approval from the Reserve Bank of India

founder Vijay Shekhar Sharma.

Early this month, Sharma, along with two companies, One97 Communications Ltd and One97 Communications India Ltd, had invested ₹218 crore in the payment banks.

Sharma is also the promoter of these two companies and holds about 51 per cent stake in Paytm Payments Bank.

One97 Communications holds the rest.

Chinese e-commerce giant Alibaba and its sister concern Alipay, which own about 41 per cent stake in One97 Communications Ltd, has also infused fresh funds into the

banking entity, thus leading to an indirect involvement of the Chinese firm.

Payment banks, conceptualised by the Reserve Bank of India, can accept a restricted deposit, which is currently limited to ₹1 lakh per customer

Karnataka Bank Launched National Pension System (NPS) for its customers.

Any individual between 18 and 60 years can register his/her

name with the bank branch to contribute and to get the pension benefit under this scheme.

NPS is introduced by the Central government to provide old-age financial security by way of regular income in the form of

pension.

P Jayarama Bhat, Managing Director and Chief Executive Officer

HQ - Mangaluru Copyright@Study-IQeduca5on,Allrightsreserved

BHIMappLaunched on the iOS platform.

The common UPI app is aimed at facilitating digital

payments.

Currently supporting over 35 banks

Hindi and English language

Per transaction limit of Rs 10,000 and per day transaction limit of Rs 20,000.

– Bharat Interface for Money app by National Payments Corporation of India (NPCI)

Walnut’sCashlessIndiaScorecard

A personal finance app

Gujarat > Haryana > Telangana

the top 3 states with the highest growth in going cashless in the country.


FreeChargeDargahNizamuddinAuliya&VrindavanChandrodayaMandir-transformingthe

fundraisingprocessforthesereligioussites.

FoundersofApp– KunalShah,SandeepTandon

Owner– Snapdeal

KunalBahl,RohitBansal


Gujarat-firststateinthecountryforestablishingcashlessdistribu5onoffoodgrains

underPDSUnion Minister for Consumer Affairs, Food and Public

Distribution Ram Vilas Paswan

Gujarat government installed Aadhaar Enabled Payment System in 17,250 Fair Price Shops (FPS)

The beneficiaries under NFSA (National Food Security Act) will need to carry only Aadhaar cards for getting their food

grain in Gujarat. This will help in establishing the identity of beneficiaries, help in stopping the leakages of grain at shop

level and above all eradicate corruption in the Public Distribution System (PDS)


The Reserve Bank of India has allowed non-resident Indians to exchange scrapped Rs 500 and Rs 1,000 notes till June 30.

Indians - March 31, 2017

NRI citizens, who were abroad between November 9 and

December 30, 2016 can exchange their defunct notes up to June 30, 2017.

The limit for NRIs will be as per the relevant FEMA (Foreign

Exchange Management Act) regulations = (Rs 25,000 per person)

Admissible amount will be credited to the tenderer's KYC

(know your customer) compliant bank account

Copyright@Study-IQeduca5on,AllrightsreservedCopyright@Study-IQeduca5on,Allrightsreserved

TheFinanceMinistrygrantedapprovalto12proposalsofPSBstoraiseasumofRs2,914.038crorethrough

preferenRalallotmentandpermissiongiventoraiseRs200crorebyUnitedBankofIndiathroughQIPmode.

Qualifiedins5tu5onalplacement(QIP)isacapital-raisingtool,primarilyusedinIndiaandotherpartsofsouthernAsia,wherebyalistedcompanycanissueequityshares,fullyandpartlyconverRbledebenturesThegovernment-infusedasumofRs25,000crorein19

PSBsduringFY2015-16.


FINANCIALINCUSION26.03croreaccountshavebeenopenedunderPradhan

MantriJanDhanYojana(PMJDY),AGE>10outofwhich15.86croreaccountsareinruralareasand

10.17croreinurbanareas.

DepositsofRs71,557.90crorehavebeenmobilised19.93croreRuPayDebitcardshavebeenissuedunder

PMJDY.Aadhaarseedinghasbeendonein14.43croreaccount

underPMJDY'bankmitras'insubserviceareas(SSAs),1,26,985


Pradhan Mantri Jeevan Jyoti Bima Yojana

(PMJJBY) over 3.08 crore,

while Rs 9.88 crore under Pradhan Mantri Suraksha BimaYojana (PMSBY)

End of Year 2016


PradhanMantriJeevanJyo5BimaYojana(PMJJBY)•  The PMJJBY is available to people in the age group of 18 to 50 years having a bank

account who give their consent to join / enable auto-debit.

Aadhar - primary KYC for the bank account. •  The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June

to 31st May and will be renewable. Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason.

•  The premium is Rs. 330 per annum / auto-debited in one installment before 31st May of each annual coverage period under the scheme.

•  The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

•  By 28th December, 2016, Cumulative Gross enrolment reported by Banks, subject to verification of eligibility, etc. is over 3.08 crore under PMJJBY. 51,745 claims were registered under PMJJBY till 28thDecember, 2016 out of which 48,023 have been disbursed.


PradhanMantriSurakshaBimaYojana(PMSBY)•  TheSchemeisavailabletopeopleintheagegroup18to70yearswitha

bankaccountwhogivetheirconsenttojoin/enableauto-debitonorbefore31stMayforthecoverageperiod1stJuneto31stMayonan

annualrenewalbasis.

•  AadharwouldbetheprimaryKYCforthebankaccount.•  TheriskcoverageundertheschemeisRs.2lakhforaccidentaldeathand

fulldisabilityandRs.1lakhforpar5aldisability.•  ThepremiumofRs.12perannum-'auto-debit'

•  TheschemeisbeingofferedbyPublicSectorGeneralInsuranceCompaniesoranyotherGeneralInsuranceCompanywhoarewillingto

offer•  By28thDecember,2016,Cumula5veGrossenrolmentreportedbyBanks

subjecttoverifica5onofeligibility,etc.isover9.88CroreunderPMSBY.10084ClaimswereregisteredunderPMSBY5ll28thDecember,2016out

ofwhich7282havebeendisbursed.

APYisaguaranteedpensionschemeandisadministeredbythePensionFundRegulatoryand

DevelopmentAuthority(PFRDA)

Guaranteedmonthlypensionforsubscribers,rangingfromRs.1,000toRs.5,000permonth.

GovernmentofIndia(GoI)willalsoco-contribute50%ofthesubscriber’scontribu5onorRs.1,000perannum,whicheverislower.TheGovernmentco-contribu5onisavailableforthosewhoarenotcoveredbyanyStatutorySocialSecuritySchemes

andisnotanIncomeTaxpayer


18-40yearsAtotalof38.23lakhsubscribershavebeenenrolledundertheAtalPensionYojana(APY)withatotalpensionwealthof

Rs1,344.70crore.

TomakeAPYmorea\racRve,theMinistrymodifiedsomerulesandgaveanopRontothespouseofasubscriberincaseofpre-maturedeathtoconRnuecontribuRngtotheaccountofthesubscriber,fortheremainingvesRngperiod,Rlltheoriginalsubscriberwouldhavea\ainedtheageof60.

Theearlierprovisionwastooverlumpsumamounttospouseontheprematuredeath(deathbefore60yearsofage)ofthe

subscriber.


Duringtheyear,thegovernmentalsostartedStand-UpIndiaSchemewithobjecRveto

providebankloansbetweenRs10lakhtoRs1croreforgreenfieldenterprisessetupbySC,STand

womenentrepreneursandextendingeffecRvehandholdingsupporttothem.

AsonDecember23,totalnumberofloans

sancRonedunderStandUpIndiaSchemeis15,341(Women:12,055,SC:2,568andST:718).


UnderPradhanMantriMudraYojana(PMMY)loandisbursementofRs77,916.54crorewas

doneto2.12crorebeneficiariesRllDecember9.Outofthis,therewere1.68crorewomen

entrepreneurswhobenefited.


TheSecuri5sa5onandReconstruc5onofFinancialAssetsandEnforcementofSecurityInterestAct,2002(SARFAESIAct)andthe

RecoveryofDebtsDuetoBanksandFinancialIns5tu5onsAct(RDDB&FIAct)havebeen

amendedforspeedierresolu5onofdefaultedloansthrough'EnforcementofSecurityInterestandRecoveryofDebtsLawsandMiscellaneous

Provisions(Amendment)Act,2016'.


PradhanMantriMudraYojana(PMMY)

TargetClientsNon-CorporateSmallBusinessSegment(NCSB)comprisingofproprietorship/partnershipfirmsrunningassmallmanufacturingunits,servicesectorunits,

shopkeepers,fruits/vegetablevendors,truckoperators,food-serviceunits,repairshops,machineoperators,smallindustries,arRsans,foodprocessorsandothers,in

ruralandurbanareas.

ShishuUptoRs.50000/-KishoreAboveRs.50000/-anduptoRs.

5LakhTarunAboveRs.5lakhanduptoRs.10lakh

Performanceason9thDecember,2016

Disbursementamount-Rs.77,916.54croreNo.ofBorrowers-2.12crore

No.ofWomenEntrepreneurs-1.68crore

Stand-UpIndiaScheme

•  TheschemeenvisagesextendingbankloansbetweenRs.10lakhtoRs.1croreforGreenfieldEnterprisesset-upbySC,STandWomenentrepreneursandextendingeffecRvehandholdingsupporttothem.

•  EachbankbranchistoextendloanstoatleastoneSC/STandonewomanentrepreneur.

•  Enterprisescoveredundertheschememaybeinmanufacturing,servicesorthetradingsector.


Stand-UpIndiaScheme

Ason23.12.2016,totalnumberofloanssanc5onedunderStandUpIndiaSchemeis

15341

[Women:12055,SC:2568andST:718].


Educa5onLoanSchemeTheEducaRonLoanScheme(ELS)formulatedbyIndianBanks'AssociaRonaimsto

providefinancialsupportfromthebankingsystemtodeserving/meritoriousstudentsforpursuinghighereducaRoninIndiaandabroad.

ThemainemphasisisthateverymeritoriousstudentthoughpoorisprovidedwithanopportunitytopursueeducaRon,withthefinancialsupportfromthebankingsystem,

onaffordabletermsandcondiRons,and,thatnodeservingstudentisdeniedanopportunitytopursuehighereducaRonforwantoffinancialsupport.

ModelEducaRonalLoanSchemewaspreparedbyIndianBanks'AssociaRon(IBA)intheyear2001whichwascirculatedtobanksforimplementaRonbyReserveBankofIndiainApril,2001.KeepinginviewtheneedsofthestudentsandsuggesRonsfromstakeholderstheModelEducaRonalLoanSchemewasrevisedbyIBAinAugust,2015.

TheoutstandingEduca5onalLoanPoroolioofPublicSectorBankshasincreasedfromRs.61,967croreason31stMarch,2015toRs.65,644croreinason31stMarch,2016andfurthertoRs68,783croreon30th

September,2016.

VidyaLakshmiPortal•  VidyaLakshmiPortal(VLP)(www.vidyalakshmi.co.in)was

launchedonAugust15,2015.

•  Studentscanview,applyandtracktheeducaRonloanapplicaRonsmadetobanksanyRme,anywherebyaccessing

theportal.

•  TwentysevenPSBs,6PrivateSectorBanksandtwoco-operaRveBankhaveintegratedtheirsystemwiththeVidya

LakshmiPortalforsubmihngon-lineloanapplicaRonsandforprovidingloanprocessingstatustostudents.ThisiniRaRve

aimstobringonboardallBanksprovidingEducaRonalLoans.Theportalcovers64educaRonalloanschemesofdifferent

banks.

AgricultureCredit

•  AsagainsttheAnnualTargetofRs.8,50,000crorefor2015-16,agriculturecreditwasdisbursedtothetuneofRs.8,77,527.05croreduring2015-16,registering103.24%achievement.

•  TheGovernmenthasfixedtheannualtargetforflowofagriculturecreditduring2016-17atRs.9,00,000crore.UptotheQuarterending30.09.2016duringtheCurrentFinancialYear2016-17,AgricultureCreditamounRngtoRs.7,55,995.16crore(provisionalfigure)hasbeendisbursed,registeringabout84%achievementoftheannualtarget.


Capitaliza5onofPublicSectorBanks(PSBs)Asofnow,thePSBsareadequatelycapitalizedandmeeRngall

theBaselIIIandRBInorms.However,theGovernmentofIndiawantstoadequatelycapitalizeallthebankstokeepasafebufferoverandabovetheminimumnormsofBaselIII.Therefore,GovernmenthasesRmatedhowmuchcapitalwillberequiredthisyearandinthenextthreeyearsRllFY2019IftheinternalgeneratedprofitisexcludedwhichisgoingtobeavailabletoPSBs(basedontheesRmateofaverageprofitofthelastthreeyears),thecapitalrequirementofextracapitalforthenextfouryearsuptoFY2019islikelytobeaboutRs.1,80,000crore.ThisesRmateisbasedoncreditgrowthrateof12%forthecurrentyearand12to15%forthenextthreeyearsdependingonthesizeofthebankandtheirgrowthability.ItisalsopresumedthattheemphasisonPSBsfinancingwillreduceovertheyearsbydevelopmentofvibrantcorporatedebtmarketandbygreaterparRcipaRonofPrivateSectorBanks.


Outofthetotalrequirement,theGovernmentofIndiaproposestomakeavailableRs.70,000croreoutofBudgetaryAllocaRons

forfouryearsasperthefiguresgivenbelow:

FinancialYear2015-16=Rs.25,000crore



FinancialYear2018-19=Rs.10,000croreTotal=Rs.70,000crore

TheGovernmenthadalreadyinfusedasumofRs.25,000crorein19PSBsduringthefinancialyear2015-16.AbudgetaryprovisionofRs.25,000crorehasbeenmadefortheyear2016-17andtheGovernmenthasalreadyallocatedRs.22,915croreto13PSBs

•  APPROVEDAcquisi5onofSubsidiarybanksofSBI

•  StateBankofBikanerandJaipur•  StateBankofHyderabad•  StateBankofMysore•  StateBankofPa5ala•  StateBankofTravancore

(BJPHMT)•  Bhar5yaMahilaBankLtd???


BankofBarodaBOBhasenteredintoMOUwithCNX

Corpora5onLtd(CNX)withanobjec5vetoprovidecollateralmanagementservices

towardstheloansagainstwarehousereceiptsanc5onedtothefarmersthroughthenetworkofBankofBarodabranchesacrossthecountry.

immenselybenefitthefarmersfromdistress

saleoftheircommodiRes.


RBI Asks Banks To Supply 40% Of Notes To Rural Areas

Banksshouldadvisetheircurrencycheststostepupissuanceoffreshnotestoruralbranchesofregionalruralbanks(RRBs),districtcentralcoopera5vebanks(DCCBs)andcommercialbanks,whitelabelATMsandpostofficesinruralareasonaprioritybasiswhichare

consideredasmainruralchannelsofdistribu5on


HDFChas5ed-upwithar5ficialintelligencefirmNiki.aitolauncha

chatbot

calledOnChatonFacebook’sMessengerplanorm,thatwillallowuserstorechargephones,payuRlitybills,bookcabsfromOlaorUberetc.,

throughachat.

Forpayments,theplanormpromptsuserstopayeitherviaPaytm,FreechargeorPayuMoney,usingwhichuserscanpayviadebit/creditcardsetc.ThusthechatbotfacilitatesthetransacRonviaanother

paymentportal.

Coca-ColaIndia(CCI),HindustanCoca-ColaBeveragesPvtLtd(HCCBPL)andStateBankofIndia(SBI)onTuesdayannouncedastrategicpartnershiptoenable2.6millionretailersand5,000distributorstoconductbusiness

transacRonsdigitally.

Aspartofthispartnership,trainingsessionswillbearrangedtohelpsmallretailersenhancetheirdigitalskills

andunderstandthebenefitsofadopRngcashlesstransacRons.

SBI'shasmanydigitalpaymentopRonslikeBuddyP2P,BuddyMerchantAppandSBIPay.


MunichRe–OpenedofficeinMumbai

Fivereinsurancecompanieshavebeengrantedfinallicencebytheregulator.

SwissRe,Germany'sMunichReandHannoverRe,France'sScor

India’sITIReinsurancewhichispartoftheFortuneFinancialServicesgroup.

TOTAL6

ReinsuranceGroupofAmerica(RGA)

Besidesthesixwhichhavesetupshop,LloydsofLondonandBerkshireHathaway'sGeneralReinsurancehavecompletedthefirststageoftheirapplica5on,whileXLReinsurancehasreceivedanin-

principlenod.


YesBanktodayRed-upwithBajajElectricalsforvendorfinancingusingblockchainsolu5on,and

announcedtousethetechnologymoreaggressivelyasitsavesover70percentincost.

BlockchainsoluRonsisadistributeddatabasethatmaintainsaconRnuously-growinglistofordered

recordscalledblocks

ItreducesturnaroundRmes,istransparentandalsoensureszeroerrors.


State-ownedfuelretailers,IndianOilCorporaRon

(IOC),BharatPetroleumCorpLtd(BPCL)andHindustanPetroleumCorpLtd(HPCL)willoffer“anupfrontdiscountofRs5oneveryLPGrefilltoallLPGcustomerswhowillbookandpayforitonline

0.75percentdiscountoncashlessfuellingofpetrolanddieselatpetrolpumps.


KBLSuraksha

KarnatakaBankLtd,inassocia5onwithUniversalSompoGeneralInsuranceCompany,haslaunchedagrouppersonalaccidentinsuranceschemenamed‘KBL

Suraksha’.

PJayaramaBhat,ManagingDirectorandChiefExecu5veOfficer

AlltheSB(savingsbank)accountcustomersofthebankintheagegroupof18-70yearscansubscribetothisschemebypayinganannualpremiumof₹100for₹10

lakhand₹50for₹5lakhcoverage.Copyright@Study-IQeduca5on,Allrightsreserved

Small Industries Development Bank of India (SIDBI) on Thursday said it has tied up with Life Insurance Corporation of India (LIC) for augmenting capital

support to enterprises in the country.

Under fund of funds operations, SIDBI handles various schemes, namely India Aspiration Fund (corpus of Rs 2,000 crore, ASPIRE Fund (Rs 60

crore) and Fund of Funds for Startups (FFS) (Rs 10,000 crore).


Finance minister Arun Jaitley chaired the Sixteenth Meeting of the Financial Stability and Development Council (FSDC). The Council, which has heads of all financial sector

regulators as its members, reviewed the major issues and challenges facing the economy in its 16th meeting held on Thursday.

The Council also reviewed the status of NPAs of public sector banks

Chief Economic Advisor Arvind Subramanian

RBI Governor Urjit Patel

Finance Secretary Ashok Lavasa Economic Affairs Secretary Shaktikanta Das

Financial Services Secretary Anjuly Chib Duggal

Revenue Secretary Hasmukh Adhia

Disinvestment Secretary Neeraj Kumar Gupta SEBI Chairman U K Sinha

IRDAI Chairman T S Vijayan

PFRDA Chairman Hemant G Contractor


India’s pioneering online automobile transactional marketplace, Droom has tied up with Axis Bank, India’s third largest private

sector bank, to provide quick sanction of loans on both new as well as used cars.


Country’s GDP growth is estimated to slow down to 7.1 per cent in current fiscal, from 7.6 per cent

in 2015-16, mainly due to slump in manufacturing, mining and construction sectors

Central Statistics Office (CSO)

‘Agriculture, forestry and fishing’ is expected to expand by 4.1 per cent in 2016-17 from 1.2 per

cent.


1 new video daily high level quant + reasoning questions special focus on Computer awareness +

Banking awareness

SBI PO/CLERK 2017

Call 95-8004-8004
